Browse Rent To Own Homes in Dublin, OH
Are you looking for a rent to own house in Dublin? If so, then browse the featured listings on this page, or signup to access our complete guide and listings for all lease to own properties in the Dublin area.
Click the link below to access the listings!
Featured Rent To Buy Houses in Dublin, Ohio
Browse the following featured properties in the Dublin, Ohio area, or click the link on this page to get access to the complete listings for Dublin rent to own houses.
How Rent To Own Real Estate Works
Also known as a lease option, rent to buy homes are a type of owner financing tor real estate properties.
While the terms of the agreements can vary from house to house, the typical scenario is one in which the owner is looking to sell the property but is willing to accept payment over a period of time, rather than an up front settlement.
In this case, the buyer and seller both agree on the selling price of the home, and the terms of the purchase agreement, specifying things such as payment terms, interest, and length of the agreement.
Usually, owner-financed properties are paid off much sooner than a traditional bank mortgage, but by allowing the renter time to accrue equity in the house, the renter can often roll over that equity into a traditional mortgage after 1-3 years, if the need arises.
Every month the renter/buyer makes a payment to the seller. Typically, part of this payment is credited as rent, while a second part is credited towards the interest on the loan and/or equity in the home. Over time, the renter can then buy out the seller, even if the renter didn’t originally have a large downpayment or the credit needed to qualify for a traditional mortgage.
Dublin Lease Purchase Homes and Houses
While there are many advantages to lease option, or lease to purchase homes, one of the main difficulties can be in locating the currently available properties.
Many rent to own listings are never uploaded to national or local databases, since it is common for sellers to work independently and not go through a real estate agent for these transactions. It is also common for sellers of owner financed, rent to buy properties to sell their homes casually, meaning that they are interested in selling, but are in no hurry to do so, meaning the listings are not widely publicized.
To find the full list of rent to buy properties in your area, you need to sign up for a dedicated listing service, which works to identify all of the relevant opportunities within your target geographical area.
Without a reputable listing agency, finding these properties can be extremely difficult!
Sign up below to get access to one of the most comprehensive rent to own listing services in the country.
Listings for Rent To Buy Properties in Dublin, Ohio
A suburb of Columbus, Dublin, Ohio is a wonderful community in which to live. It boasts a population of just over forty thousand people, which means it is neither a small town nor a city, but has some of the attractions of both.
Just a stone’s throw from downtown Columbus, Dublin is likely to remain a stable housing investment for many years to come, as Columbus provides the much needed job diversity for the region.
If you’re looking for a home in Dublin, one of the best opportunities you can take advantage of is in finding a rent to own home that meets your needs, while giving you the benefit of being able to purchase a property without putting down much cash up front.
Rent to buy properties, which are often referred to as lease option properties because they technically don’t sell the property outright, but give the purchaser time to purchase the property at a pre-established price, have become increasingly common for first time homebuyers and real estate investors who don’t have a lot of cash on hand to buy a property outright.
Unlike traditional mortgages, which can often require 20% of the purchasing price as a downpayment, lease option homes are a form of seller financing that provides benefits for all parties involved, even if a relatively small amount of capital is exchanged at the time of the deal.
The buyeris allowed to live in the property, wtih a percentage of their monthly rent going towards their downpayment, effectively allowing them to purchase and move into a home with no money down, though the seller often retains ownership of the property during the early months of the deal, providing him insurance against a buyer that can’t complete the required payments.
If you are thinking about buying a rent to own home in Dublin, then be sure to check out the listing service featured above in order to gain access to all of the available property listings in your area.